iRhythm Technologies (NASDAQ:IRTC) CFO Daniel G. Wilson Sells 3,000 Shares

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) CFO Daniel G. Wilson sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $150.00, for a total value of $450,000.00. Following the completion of the transaction, the chief financial officer now owns 40,307 shares in the company, valued at $6,046,050. This represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

iRhythm Technologies Stock Performance

iRhythm Technologies stock traded up $2.70 during trading on Tuesday, hitting $153.65. The stock had a trading volume of 469,338 shares, compared to its average volume of 480,199. The stock's 50 day moving average is $132.19 and its two-hundred day moving average is $112.57. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $154.46. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -48.93 and a beta of 1.40. The company has a quick ratio of 5.58, a current ratio of 5.71 and a debt-to-equity ratio of 7.47.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The business had revenue of $158.68 million for the quarter, compared to analysts' expectations of $153.39 million. iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. iRhythm Technologies's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the company earned ($1.23) earnings per share. As a group, analysts predict that iRhythm Technologies will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IRTC shares. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Morgan Stanley increased their target price on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. The Goldman Sachs Group boosted their price target on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.60.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in iRhythm Technologies by 169.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company's stock worth $94,535,000 after purchasing an additional 568,261 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in iRhythm Technologies in the first quarter worth $54,249,000. First Light Asset Management LLC bought a new position in shares of iRhythm Technologies during the 4th quarter valued at about $38,818,000. Millennium Management LLC grew its position in iRhythm Technologies by 563.8% during the first quarter. Millennium Management LLC now owns 399,746 shares of the company's stock valued at $41,845,000 after acquiring an additional 339,529 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of iRhythm Technologies by 111.7% during the 4th quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock valued at $51,217,000 after purchasing an additional 299,726 shares during the last quarter.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.

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